On April 23rd 2021, Moody’s announced that it was downgrading Botswana’s long term debt credit rating from A2 with a negative outlook to A3 with a stable outlook. It should be noted that that the rating had been adjusted in May 2020 from A2 with a stable outlook to A2 with a negative outlook, essentially forecasting the current downgrade. Previously Botswana had been rated as A2 and stable since November 2011 but has been on A2 since 2001. The question therefore is what does this all mean, is it significant, how will it affect us as Botswana and should we be worried?
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